Parliament Monsoon Session: Taxation Bill, banking reforms on agenda amid Opposition offensive
Last Updated:04 August 2026, 09:58 AM ISTThe Monsoon Session is set for another stormy day as the government pushes key financial and banking legislation while the Opposition prepares to corner the Centre. . .
Last Updated:04 August 2026, 09:58 AM ISTThe Monsoon Session is set for another stormy day as the government pushes key financial and banking legislation while the Opposition prepares to corner the Centre over the alleged Ram Temple donation theft and police action against student protesters. Members leave after the Lok Sabha was adjourned sine die, during the Special session of Parliament, in New Delhi, Saturday, April 18, 2026. (Sansad TV via PTI Photo)New Delhi: The Monsoon Session of Parliament is expected to witness another turbulent day on Tuesday, with the government scheduled to introduce and take up several key legislations in the Lok Sabha even as the Opposition gears up to intensify its attack over the alleged Ram Temple donation theft controversy and the alleged police action against students protesting theNEET-UG paper leak. The Centre has lined up important financial, banking and administrative business in the Lok Sabha, with Union Finance Minister Nirmala Sitharaman set to introduce the Taxation and Other Laws (Amendment) Bill, 2026. The proposed legislation seeks to amend the Payment and Settlement Systems Act, 2007, the Income-tax Act, 2025, and the Finance Act, 2026. Sitharaman will also introduce the Appropriation (No. 3) Bill, 2026, which seeks parliamentary approval for excess expenditure incurred from the Consolidated Fund of India during the financial year 2022-23. She is also expected to table a statement explaining the promulgation of the Income-tax (Amendment) Ordinance, 2026. Key business listed for TuesdayTaxation and Other Laws (Amendment) Bill, 2026Appropriation (No. 3) Bill, 2026Statement on the Income-tax (Amendment) Ordinance, 2026Consideration and passage of the Bankers' Books Evidence Bill, 2026Message from the Rajya Sabha on the MSME Development (Amendment) Bill, 2026Reports by the Public Accounts CommitteeReports by the Committee on Government AssurancesReports by the Standing Committee on Housing and Urban AffairsThe Bankers' Books Evidence Bill, 2026, introduced in the Lok Sabha on Monday, is also expected to be taken up for consideration and passage. The proposed law aims to replace the 125-year-old Bankers' Books Evidence Act, 1891, with a technology-neutral legal framework governing banking records in the digital era. Meanwhile, the Lok Sabha will receive a message from the Rajya Sabha regarding the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026, which was passed by the Upper House through a voice vote on Monday. Several parliamentary committees are also scheduled to meet during the day. The Standing Committee on External Affairs will examine India-Sri Lanka relations and the way forward, while the Standing Committee on Defence will review action taken on Defence Grants for 2026-27, assess Sainik Schools, the Rashtriya Indian Military College and Rashtriya Military Schools, and discuss the modernisation of Defence Public Sector Undertakings with a focus on MSME participation. Without any debate, the Lok Sabha on Monday (August 3, 2026) cleared a Bill raising the sanctioned strength of judges in the Supreme Court. Political tensions remain high after repeated disruptions during the Monsoon Session. The Opposition has been demanding detailed discussions on the alleged Ram Temple donation theft controversy and the alleged police brutality against students protesting over the NEET-UG paper leak. Ahead of Tuesday's proceedings, Congress MP Sukhdeo Bhagat accused Union Home Minister Amit Shah of avoiding Parliament and demanded that he take responsibility for the alleged police action against students. Referring to reports of a lathi-charge and the use of pellet guns, Bhagat alleged that the government had become 'mute, deaf and scared' and called on the Home Minister to apologise. Adding a political dimension to the day, NCPI MP Sudip Bandyopadhyay attended the NDA Parliamentary Party's 'Mangal Milan' meeting for the first time, asserting that all members of his party remained united. With only eight working days left before the Monsoon Session concludes on August 13, both the government and the Opposition are expected to continue their legislative and political battle inside Parliament.